SL Green Realty Corp. (NYSE:SLG) today reported that its board of directors has declared the quarterly dividend of $0.50 per share of common stock, consistent with the previous announcement of a dividend increase in October 2013. The dividend is payable on January 15, 2014 to shareholders of record at the close of business on December 31, 2013.
The new annual dividend of $2.00 represents a 52% increase over the prior year.
The board of directors also declared the regular quarterly dividend on the company's Series I Preferred Stock for the period October 15, 2013 through and including January 14 2014, of $0.40625 per share, which is the equivalent of an annualized dividend of $1.625 per share. The dividend will be payable January 15, 2014 to shareholders of record at the close of business on December 31, 2013.
About SL Green Realty Corp.
SL Green Realty Corp., New York City's largest office landlord, is the only fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2013, SL Green owned interests in 89 Manhattan properties totaling 42.3 million square feet. This included ownership interests in 23.9 million square feet of commercial properties and debt and preferred equity investments secured by 14.9 million square feet of properties. In addition to its Manhattan investments, SL Green holds ownership interests in 31 suburban assets totaling 5.4 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey, along with three development properties in the suburbs encompassing approximately 0.4 million square feet. The Company also has ownership interests in 28 properties totaling 3.7 million square feet in southern California.